Economy

Wall St set to open lower as N.Korea tensions rise

Wall St set to open lower as N.Korea tensions rise”

Analysts look for the nuclear bomb tests as the main culprit on why fear continues to instill inside investors, dragging most USA stocks, even the dollar, down even after closing at lower figures last week.

Exxon and Chevron rose about 2 percent, providing the biggest boost to the S&P, while a 2.3 percent rise in Home Depot shares propelled the Dow. In its last statement in July, the currency had a low number of mentions of 9 times, they said.However, price action was subsiding after the morning flurry as Wall Street traders do not return from the Labor Day holiday until Tuesday in a week filled with central bank meetings that are expected to dominate market attention.

"In general, we continue to get a positive momentum on the economic side".

Federal Reserve Governor Lael Brainard said the USA central bank should delay raising United States interest rates until it is confident inflation that is now "well short" of target will rebound. "While North Korea is still a wild card for certain, on the central bank front, both the ECB and the Fed are looking a little bit more dovish", Erickson said.

Investors will focus on the Fed's Beige Book, a round-up of anecdotes on the health of the economy, that will be issued later in the day.

The Dow Jones Industrial Average .DJI rose 54.33 points, or 0.25 percent, to 21,807.64, the S&P 500 .SPX gained 7.69 points, or 0.31 percent, to 2,465.54 and the Nasdaq Composite .IXIC added 17.74 points, or 0.28 percent, to 6,393.31.

Lastly, investors are also watching Hurricane Irma, which is threatening the Caribbean islands and Florida, just one week after Hurricane Harvey disrupted refineries in Texas. It is up more than 13 percent against the dollar this year and is the best performing currency in the G10 space.The euro's price action on Monday was all the more surprising given the overhang of long bets on the single currency that have grown rapidly this year and before an European Central Bank policy meeting this week. andLatest positioning data showed long euro positions at their biggest in five years.

The S&P on Friday had ended within five points of its record closing high.

The futures of USA stocks were down as the ongoing geopolitical turmoil against the North Korea extends up to this week.

Newell Brands was off about 4 percent after the Sharpie maker slashed its profit outlook for 2017, while apparel retailer Francesca's Holdings was down more than 3 percent after its profit forecast fell below estimates.

Declining issues outnumbered advancing ones on the NYSE by a 2.34-to-one ratio; on Nasdaq, a 2.14-to-one ratio favoured decliners.

The benchmark S&P fell as much as 1.2 per cent during the session, but stemmed its losses by the close.



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